Thu, 23 Sep 2021 | MERGER
Elysian Capital has acquired cereals and cereal bar maker Deeside Cereals through its subsidiary firm Wholebake Ltd. Following the acquisition, the two firms will be merged to create a new group in the UK’s cereal and bars sector.
Wholebake was acquired by Elysian earlier this year and the takeover of Deeside Cereals is the first add-on acquisition to Wholebake. The deal comes amid strong M&A activity in the UK’s health food sector, which is being driven in part by consumers increasingly opting for healthier snacks such as cereal bars.
Deeside Cereals was incorporated in 1976 and is based in Flintshire, North Wales. The company produces private label cereals and snack bars for retailers, including the Perfect Balance range. For the year ending March 31 2021, the company reported turnover of £33.2 million, down from £35.5 million a year earlier due to the impact of COVID-19, and a post-tax loss of £977,000.
Following the merger of the two firms, the new group will be led by Wholebake CEO Simon Faithfull and non-executive director Peter Unsworth. The group will focus on innovation and growth in the snack and private label cereals sector.
Peter Unsworth commented: “Wholebake and Deeside Cereals are a great fit with complementary capabilities. We share similar values and ethics and a passion for innovation to meet emerging consumer needs and efficient service to meet customer demands. By coming together, we can continue to add value and lead the way in the expanding snack bar category and own label cereal markets.”
Elysian Capital CEO Ken Terry added: “I am delighted we have been able to bring Deeside and Wholebake together, in line with our stated strategy of growing our businesses both organically and through opportunistic acquisition.”
“By combining the two businesses we believe we have created the premier contract manufacturer of snack bars and cereals in the UK and diversified the group’s offering into another strand of the healthy food manufacturing space.”
Find businesses for sale here.
If you are looking for an exit, we can help!
Its traditional setting and Italian charm provide an ambience which the owner firmly believes cannot be found elsewhere and he calls it a Hitchin fine-dining gem! The delicious menu is heavily influenced by the owner's Venetian roots, using only the...
LEASEHOLD
The business benefits from its location on the edge of a new food court with a complete building refit including a newly fitted restaurant, fixtures, fittings and equipment costing an estimate of around £400,000! There is a state-of-the-art kitchen a...
LEASEHOLD
Supplies food servery counters and restaurant and catering equipment for clients throughout the UK. Prides itself on providing a professional, flexible and cost-efficient service at every stage of the process, from initial project design through to c...
LEASEHOLD
|
20
|
|
May
|
Administrators seek buyer for gourmet instant noodle brand | ADMINISTRATION
Bournemouth-based instant foods brand Mr Lee’s Pure Fo...
|
19
|
|
May
|
Knights continues acquisition-lead growth strategy with £11.5m deal for law firm | BUSINESS SALE
Legal services company Knights has acquired Portsmouth-headq...
|
18
|
|
May
|
Insolvencies forecast to surge 37 per cent in 2022 as inflation hits 40-year high | BUSINESS NEWS
Businesses in the UK look set to come under continuing press...
Sign up to receive our acquisition alert emails to get your FREE guide
|
04
|
|
Aug
|
Elysian Capital acquires cereal bar maker amid health food M&A boom | MBO/MBI
Private equity firm Elysian Capital has acquired cereal bar ...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources